A comprehensive tool for determining the levels of support, resistance, and reversals in relation to trading sessions. The thesis of the indicator can be expressed as follows:
Following the thesis, the indicator detects levels and processes data separately for three trading sessions: Asian (including Pacific), European and American.
The full instructions of the indicator are available on the discussion page of the unlimited version.
The indicator contains the following subsystems, which can be used either independently or in any combination:
- Period Marks: Trading session Candles-groups and displays the data of each trading session in the form of a Japanese candle. Candlesticks can be used to analyze patterns or to graphically determine the periods of level formation.
- Price Marshes: Support and resistance levels-displays support/resistance levels in the form of a gradient field of horizontal lines, the color of which depends on the trading sessions in which this level was formed. The color density is directly related to the number of confirmations of this level. The level source periods can be selected from the range ” M1 ” to “W1”.
- Proximate Missions: Nearest Targets-displays the value of the two nearest levels at the top and bottom to the right of the last bar. The levels are filtered by the current trading sessions (the levels of inactive trading sessions are not displayed) from the Price Marshes data.
- Periods Meters: Timers of trading sessions-displays the status of trading sessions and the time before their start/end.
- Predator Mask: Predator Vision-controls the display of sessions in the above instruments, allowing you to view data only for selected (or excluding selected) trading sessions.
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The indicator uses a single input parameter Analysis depth (days). Other settings and mode changes are made via the on-screen interface of the indicator.
- Analysis depth (days) – depth of analysis in days.
Default settings (they will also be used in the tester): Session auto-tracking mode; Levels, Candles, Timer, Goals are enabled; “Narrow” mode is used; the period of the data source coincides with the period of the chart.
The indicator uses the following parameters of trading sessions:
The server time offset is determined automatically and does not need to be specified.
- Time shift detecting… – the server time offset is determined.
- [Symbol] [Period]: history loading… – additional history is loaded when changing the indicator modes. If this message does not disappear within a reasonable time, reduce the value of the input parameter “Analysis depth (days)“.
- Session candles for [Period] period are not provided – it is not possible to build candles on the selected chart period.
- Untrusted price area! – prices unknown: The price is near the boundaries of the analyzed range. The evidence is unreliable.
Attention! This version is limited in use to the Canadian Dollar (***CAD) in any pairs. The indicator will run on all other symbols, but some of the tools will be unavailable depending on the date. The unlimited version is located here.
Attention! This version is limited in use to the Canadian Dollar (***CAD) in any pairs. The indicator will run on all other symbols, but some of the tools will be unavailable depending on the date. The unlimited version is located here.
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